Magnati, a Middle Eastern provider of payment solutions, has partnered with NPCI International Payments Ltd. (NIPL), the international division of India's National Payments Corporation of India (NPCI).
Through Magnati's point-of-sale (POS) terminals, the alliance aims to increase UPI acceptance in the UAE and facilitate frictionless payment for millions of Indian travelers through QR-based technology.
The partnership will initially allow UPI to be used at Dubai Duty Free, providing Indian visitors with a more practical option to make payments and buy. Over time, NIPL hopes to expand this service to other important merchant categories, such as supermarkets, dining establishments, transportation, and retail.
With over 12 million Indian tourists visiting Dubai and the UAE annually, this expansion targets a sizable consumer base that is already accustomed to using UPI's quick and safe real-time payment system.
Magnati will have access to NPCI's digital payment technologies as part of the agreement, while NIPL will use Magnati's merchant network to increase UPI acceptance.
